Days traders are doing a bit of short-covering as EUR/USD retakes “old” trend lows in the 1.3140/45 level set earlier in the day. We’v bounced back above the 1.3160 level and trade now at 1.3163.
5-year note auction results and the FOMC statement should be the afternoon highlights, barring any more European surprises.. Small offers are seen at 1.3180 and again at 1.3220.
